MAIN INDICATORS OF THE GERMAN LABOR MARKET: QUANTITATIVE ASSESSMENT OF IMPACT ON MACROECONOMIC INDICATORS

The study of the German labor market makes it possible to assert that Germany is a model of the employment system in the European Union. In the article, the authors studied the main indicators of the country’s labor market: minimum and average wages, nominal and real wages, unemployment rate, immigration to the country. It was revealed that the size of minimum wage rate is influenced not only by the state, but also by employers and trade unions. Thus, in many industries, the minimum wage is higher than the amount established by the state. In addition, the analysis of the size of the average salary demonstrates an important problem of the German labor market - the gender gap in income. In 2021, men earned approximately €700 more than women for equivalent work. The research examines the reasons for this inequality and offers recommendations for overcoming this contradiction. The article calculated the real wage index and found that starting from 2020, prices in Germany grew faster than wages. So, the real wage index for 2022 is -4.0. The main macro indicator of the labor market was analyzed. This is the level of unemployment, which turned out to be lower than the average indicator in the European Union. In addition, the authors draw attention to the problem of the aging of workers and the uneven distribution of the employed across the country’s regions. Thus, 53% of people over the age of 55 are still working in the economy. This is due to the shortage of specialists with higher education among young people. The article describes the immigration process in Germany and reveals an increase in migrants from countries suffering from war and violence. The influence of the number of immigrants on such macroeconomic indicators as GDP, GDP per capita, unemployment rate, and the size of the average wage was analyzed.